Fuel cycle roundup #5

07 February 2013

Areva partners Aura for Häggån

Aura Energy has confirmed Areva Mines as its preferred strategic partner for the Häggån uranium and polymetallic project in Sweden. Australia-based Aura had previously announced that it had signed an exclusivity agreement with a "major uranium market participant" but had not until now disclosed any names.

Figures released in mid-2012 estimate resources of 800 million pounds U3O8 (307,718 tU) at Häggån, making the Swedish project the second largest undeveloped uranium resource in the world. The uranium occurs with molybdenum, vanadium and zinc in black shales, and Aura has reported yields of up to 85% uranium from bioheap leaching tests. The companies have entered into a binding cooperation agreement giving them four months in which to work on plans for a pre-feasibility study program and also on the formal documentation giving Areva the right to acquire an interest in the project.

More Karoo uranium

Peninsula Energy has announced maiden JORC-compliant resource figures for its Karoo projects in South Africa's Cape Provinces. The total resource estimate of 50.1 million pounds U3O8 (19,271 tU) includes indicated resources of 15.7 million pounds (6039 tU) and inferred resources of 34.4 million pounds (13,232 tU). The estimate is based on a historical database and drilling undertaken by Peninsula since 2011. Further drilling is now under way to convert other areas of historic mineralisation to JORC status, Peninsula chairman Gus Simpson said, adding that the company "intends to quickly progress the projects to feasibility."

The announcement of the Karoo figures comes weeks after a drilling program added a further 2.5 million pounds (962 tU) of measured and indicated resources and 2.2 million pounds (846 tU) of inferred resources to its JORC figures for the Lance project in Wyoming, USA. The total JORC resources for the project now stand at 53.7 million pounds U3O8 (20,656 tU).

Phoenix resource update

Updated resource estimates for the Phoenix A and B uranium deposits at Denison Mines' Wheeler River project have seen a 47% increase in indicated resources and a 100% increase in inferred resources over 2010 figures. Total indicated resources for the combined deposits now stand at 52.3 million pounds U3O8 (20,117 tU), with inferred resources of 7.6 million pounds (2923 tU). The figures, released in January, are NI43-101 compliant.

Denison is the operator and holds a 60% interest in the project, which lies between the McArthur River mine and Key Lake mill. The remainder is held by Cameco (30%) and JCU (Canada) Exploration (10%).

More in Cauldron's pot

Cauldron Energy has announced a 300% increase in inferred uranium resources at its Yanrey Project in Western Australia. JORC-compliant inferred resources at the deposit now stand at 15.7 million pounds U3O8 (6039 tU). Drilling completed in late 2012 identified two new uranium resources, Bennet Well East and Bennet Well South. Cauldron head of operations Simon Youds enthused about the "pleasing" resource upgrade, saying it had "confirmed a substantial new high grade in situ leach uranium district at Yanrey."

Hall of Fame welcomes Grandey

Jerry Grandey (Image: Cameco)

Emeritus chairman of the World Nuclear Association and former Cameco CEO Jerry Grandey has been inducted into the Canadian Mining Hall of Fame at a ceremony in Toronto. Grandey was honoured not only for his corporate achievements and "exceptional leadership" at Cameco but also for his role in negotiating the 1999 Highly Enriched Uranium (HEU) agreement allowing uranium from dismantled Russian nuclear weapons to be used to fuel civilian nuclear reactors, and his commitment to the participation of aboriginal people in the mining industry.